- SNNP delivers for Q2/23 by achieving a record net profit attributed to the company, reaching 157 million Baht, a 35% increase.
- The board approved an interim dividend payment of 0.232 Baht per share.
- Confidence remains high as the performance this year is on track for continuous record growth.
Srinanaporn Marketing Public Company Limited (SET: SNNP), continues its unstoppable growth momentum! Showcasing Q2/23 results with total revenues exceeding 1,481 million Baht and a net profit attributed to the company of 157 million Baht, marking 35% increase compared to the same period of the previous year. The impressive figures are attributed to robust product sales and a positive response to new product lines. The company’s generous dividend distribution amounts to 0.232 Baht per share in cash, along with the announcement of eligible recipients on August 23, 2023. The Senior Executive Vice President, “Wiroj Wachiradechkul” expressed readiness to recognize revenue of new products, firmly confident in this year’s progress, aiming for revenue to exceed 6,500 million Baht and achieve new consecutive record highs.
Wiroj Wachiradechkul, Senior Executive Vice President of Domestic Business Division at Srinanaporn Marketing Public Company Limited, or SNNP, a leading company in Thailand’s beverage and snack products, revealed the overall operational performance for Q2/2023, recording a net profit attributed to the company of 157 million Baht, an increase of 41 million Baht or 35% compared to the same period of the previous year, which had a net profit attributed to the company of 116 million Baht. The total revenue for the quarter reached 1,481 million Baht, representing an increase of 141 million Baht or 11 % compared to the same quarter of the previous year, which had a total revenue of 1,339 million Baht.
During the first 6 months of 2023, the company achieved a net profit attributed to the company of 311 million Baht, an increase of 90 million Baht or 41% compared to the same period of the previous year, where the net profit attributed to the company stood at 221 million Baht. Total revenue reached 2,908 million Baht, representing an increase of 425 million Baht or 17% compared to the same period of the previous year, which had a total revenue of 2,483 million Baht.
Factors, contributing to the continuous increase of the company’s net profit comes from the growth in sales of all products, both in the domestic and export markets, is “Jele” which has consistently shown high sales since the establishment of the company. Additionally, the company has continuously introduced new products to the market, receiving an overwhelming positive response.
The Board of Directors meeting No. 4/2023 approved an interim dividend payment to shareholders in cash at the rate of 0.232 Baht per share, totaling approximately 223 million Baht. The list of shareholders entitled to receive dividends (Record Date) is set for August 23, 2023, with the dividend payment scheduled for September 8, 2023.
The strong growth in operational results is a result of the dedicated development of beverage and snack products, focusing on both quality and service excellence. Additionally, aiming to build a brand that holds the top position in the hearts of consumers of all genders and ages, has led to the continuous expansion of flagship product lines like “Jele” and “Bento.” In the early part of the year, the company also marketed the new brand “Lotus,” adding another pillar to its business foundation, aiming to further strengthen its position. This overall strategy provides confidence that the revenue trend for the entire year 2023 will reach an impressive milestone of 6,500 million Baht.
Looking ahead to the second half of the year, the company foresees even greater growth compared to the first half. This projection is driven by the economic growth-driven sales expansion in the domestic market, along with the resurgence of the tourism sector. The company is also anticipating revenue recognition from the sales of new products introduced in the latter part of Q2/2023 and early Q3/2023. Furthermore, the company continues to foster brand awareness, stimulate consumption, and introduce new products to cater to target demographics and distribution channels. These factors collectively contribute to sustaining the company’s consistent growth trajectory.
